Marketing Plan Topic:Due Week One Complete this form and submit it to the Week 1 Marketing Plan Dropbox. Your instructor must approve your idea, and will give you feedback and suggestions if you need help. You have several options when choosing a product or service for your marketing plan. Consider choosing a new product for a new company (your own) or creating a new product for an existing company. Perhaps you would want to do a product extension of an existing product. You might consider a different approach to marketing an existing service.
You can target consumers or businesses. You may choose a product or service offered by your employer or your own business, or one from another organization. Ultimately, to maximize your learning experience, choose a product or service in which you have an interest and about which you would like to see your product or service come to the marketplace. Make sure there is information available about the industry and target marketing of the product or service you choose. MARKETING PLAN TOPIC Your Name: Product or Service Idea:
SmartWater Is your product or service offered by: __X__an existing company? ____a new company imagined for the assignment? Explanation: Glaceua is the maker of smartwater, vitaminwater and vitaminwater zero. Who do you think is the target audience? (Remember you will need research to confirm this. ): Their main target are people who enjoy healthy food and are aware of what they are putting into their bodies. Customer’s buy Smart Water for “what’s not in it”, which is a major selling point for Glaceau.
Are similar or competitive products or services available? List or briefly describe a similar product or service: (If your idea has no precedent in the marketplace, consider another idea). Spring water is the direct competitor as it is less expensive and easily accessible since supermarket chains are now manufacturing their own brand of spring water. Also, there is still the competition of water fountains and water filters which are both used to this day. How will your product or service differ from competitors?
What is your distinctive competitive advantage? To distinguish their product from spring water, the company created the term “Smart Water” and bottled it in graphically appealing proprietary packaging under its trademarked brand name, Glaceau. Glaceau Smart Water has claimed its rightful place as having the lowest measurement of total dissolved solids (i. e. metals and minerals) of any water on the market. Do you have questions for your instructor? Do you feel I will have enough sources for this product.